Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... TRADE NOTICE No. - 11/2017 Subject: Issues related to Bond/Letter of Undertaking for exports without payment of integrated tax - Reg. Attention of the trade/ public is invited to Circular No. 4/4/2017-GST dated 07.07.2017 issued under F. No. 349/82/2017-GST by the Government of India, Ministry of Finance Department of Revenue (Central Board of Excise and Customs) N .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... LUT) in FORM GST 11. 4. Attention is invited to notification No. 16/2017-Central Tax dated 01-07-2017 vide which the category of exporters who are eligible to export under LUT has been specified along with the conditions and safeguards. All exporters, not covered by the said notification, would submit bond. The procedure for submission and acceptance of bond has already been prescrib .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 39; tax liability on exports is within the bond amount. In case the bond amount is insufficient to cover the tax liability in yet to be completed exports, the exporter shall furnish a fresh bond to cover such liability. 6. FORM RFD -11 under rule 96A of the CGST Rules requires furnishing a bank guarantee with bond. Field formations have requested for clarity on the amount of bank gua .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ond/LUT shall be accepted by the jurisdictional Deputy/Assistant Commissioner having jurisdiction over the principal place of business of the exporter. The exporter is at liberty to furnish the bond/LUT before Central Tax Authority or State Tax Authority till the administrative mechanism for assigning of tax payers to respective authority is implemented. However, if in a State, the Commissioner of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ing jurisdiction over the principal place of business. 10. These instructions shall apply to exports on or after 1st July, 2017. All approved trade associations and members of RAC/PGC are requested to bring the contents of this notice to the notice of their constituent's members and others concerned. Sd/- (P.N.TIWARI) Com .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X